Manual for Preparation of Returns for Insurance Intermediaries and Managers

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Manual for Preparation of Returns for Insurance Intermediaries and Managers

1. INTRODUCTION

1.1. The purpose of the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers (hereinafter – Manual) is to outline financial, prudential and financial conduct returns templates, provide the guideline on preparation and submission of returns by the AIFC Participants authorised to conduct insurance intermediation and insurance management (hereinafter – Insurance Intermediaries and Insurance Managers).

1.2. The Manual complies with the AIFC General Rules (hereinafter – Gen), AIFC Conduct of Business Rules (hereinafter – COB) and AIFC Prudential Rules for Insurance Intermediaries and Insurance Manager (hereinafter - PRU (INT) meets the requirements of regulatory framework established by Astana Financial Services Authority (hereinafter – AFSA).

2. REPORTING TEMPLATES

2.1 The Insurance Intermediaries and Insurance Managers are required to submit financial and prudential returns listed in Table 1.:

Table 1. The list of financial and prudential returns and their applications

	Returns Template	Annex No.	Application
Financial Statements	Financial position/ Balance sheet	1.1.	Applicable for Insurance Intermediaries and Insurance Managers
	Financial position/ Balance sheet of Branches	1.2.	Applicable only for branches of Insurance Intermediaries and Insurance Managers
	Profits and Losses Report	1.3.	Applicable for Insurance Intermediaries and Insurance Managers
Prudential Returns	Capital Resources and Indemnity Insurance Calculation	1.4.	Not applicable for branches of Insurance Intermediaries and Insurance Managers
	Business operations of Insurance Intermediary and Insurance Managers	1.5.	Applicable for Insurance Intermediaries and Insurance Managers
	Information on Controller	1.6.	Applicable for Insurance Intermediaries and Insurance Managers
Financial Conduct Returns	Staffing and Conduct	2.1	Applicable for Insurance Intermediaries and Insurance Managers

3. REPORTING RULES

3.1. AIFC Insurance Intermediaries and Insurance Managers must submit to the AFSA financial, prudential and financial conduct returns outlined in table 1. of this Manual made in thousands of USD with explanatory note disclosing the main report outcomes, for following reporting and submission periods:

3.1.1. Quarterly returns within a month after reporting quarter ends;

3.1.2. Annual returns within 4 months after the reporting year ends;

3.2. If an AIFC Insurance Intermediaries and Insurance Managers becomes aware, or has reasonable grounds to believe, that it is or may be about to be in breach of any of the prudential requirements set by AFSA or financial services regulator of its Head Office incorporation, it must notify the AFSA immediately no later than 1 business day and follow the rule 5.5 of PRU(INT).

3.3. Returns must be submitted to the Astana Financial Services Authority (hereinafter – AFSA) by way of official e-communication channels. The transmission should include scanned copies of signed reports and supporting Ms Excel documents.

4. CONCLUSION

4.1. Insurance Intermediaries and Insurance Managers within a month after approval of reports produced by its significant shareholders must submit following reports in English language, if such reports are required to be created:

4.1.1. audited annual financial reports of significant shareholders; and
4.1.2. annual reports of significant shareholders, that includes annual information on business performance, implementation of strategic goals and other information about shareholders.

4.2. Branches of Insurance Intermediaries and Insurance Managers within a month after approval of reports must submit copies of Head Office Insurance Intermediary and Insurance Managing Firm reports in English language:

4.2.1.Audited annual financial report;
4.2.2.Annual report, that includes annual information on business performance, implementation of strategic goals and other information about Head Office Insurance Intermediary and Insurance Managing Firm;
4.2.3.Quarterly financial and prudential returns, that are required to be submitted by the Head Office Insurance Intermediary and Insurance Managing Firm to its home financial services regulator.

5. The AFSA by written Notice may extend the submission periods of reports outlined in the Manual.

6. Insurance Intermediaries and Insurance Managers should be informed on amendments to this Manual within 10 business days after publication on the AFSA official website.

Annex 1.1. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

FINANCIAL POSITION/ BALANCE SHEET TEMPLATE

FOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

Authorised Firm’s Name	______________________________________
Regulated Activity (select)	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money (select)	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
Financial Position / Balance Sheet

Line no.	FINANCIAL POSITION/ BALANCE SHEET	Reporting period	Reporting period -1
	ASSETS
1	Cash and Cash Balances at Banks
2	Cash in Hand
3	Cash Balances at Central Banks
4	Money Market Placements
5	Deposits
6	Financial Assets Held for Trading
7	Derivatives
8	Equity Instruments
9	Debt Securities
10	Loans and Advances
11	Islamic Contracts
12	Non-Trading Financial Assets Designated at Fair Value through Profit or Loss
13	Equity Instruments
14	Debt Securities
15	Loans and Advances
16	Islamic Contracts
17	Financial Assets Designated at Fair Value through Profit or Loss
18	Debt Securities
19	Loans and Advances
20	Islamic Contracts
21	Financial Assets designated at Fair Value through Other Comprehensive Income
22	Equity Instruments
23	Debt Securities
24	Loans and Advances
25	Islamic Contracts
26	Financial Assets at Amortised Cost
27	Debt Securities
28	Loans and Advances
29	Islamic Contracts
30	Derivatives - Hedge Accounts
31	FV Changes of the Hedged Items in Portfolio Hedge of Interest Rate Risk
32	Investments in Subsidiaries, Joint Ventures and Associates
33	Tangible Assets
34	Property, Plant, and Equipment
35	Investment Property
36	Account Receivables
37	Prepayments and Security Deposits
38	Intangible Assets
39	Goodwill
40	Other Intangible Assets
41	Tax Assets
42	Other Assets
43	Non-Current Assets and Disposal Groups Classified as Held for Sale
44	TOTAL ASSETS

	LIABILITIES
45	Financial Liabilities Held For Trading
46	Derivatives
47	Short positions
48	Debt securities issued
49	Islamic contracts
50	Other financial liabilities
51	Financial Liabilities Designated at Fair Value through Profit and Loss
52	Debt securities issued
53	Islamic contracts
54	Other financial liabilities
55	Financial Liabilities designated At Amortised Cost
56	Debt securities issued
57	Islamic contracts
58	Other financial liabilities
59	Deposits/PSIAu
60	Banks and Financial institutions
61	Others
62	Derivatives-Hedge Accounts
63	FV Changes of the Hedged Items in Portfolio Hedge of Interest Rate Risk
64	Provisions
65	Pensions, other post-employment defined benefit obligations and other long-term employee benefits
66	Restructuring
67	Pending legal issues and tax litigation
68	Commitments and guarantees given
69	Problem credits (bad and doubtful debt)
70	Other provisions
71	Current Liabilities
72	Tax Liabilities
73	Other Liabilities
74	Liabilities Included in Disposal Groups Classified as Held for Sale
75	TOTAL LIABILITIES

	SHAREHOLDER'S EQUITY
76	Capital
77	Paid up Capital
78	Unpaid Capital which has been called up
79	Share Premium
80	Equity Component of Compound Financial Instruments
81	Other Equity
82	Accumulated Other Comprehensive Income
83	Retained Earnings
84	Revaluation Reserves
85	Other Reserves
86	Reserves or accumulated losses of investments, joint ventures and associates
87	Other
88	(-) Treasury Shares
89	Profit Or Loss Attributable To Owner Of the Parent
90	(-) Interim Dividends
91	Minority Interest [Non -Controlling Interest]
92	TOTAL SHAREHOLDERS EQUITY
93	TOTAL LIABILITIES AND SHAREHOLDERS EQUITY

	OFF-BALANCE SHEET EXPOSURES
94	Direct credit substitutes
95	Transaction - related contingent items
96	Short-term self-liquidating trade-related contingent items - applicable to both issuing and - confirming banks - and commitments to underwrite debt and equity Securities
97	Note issuance facilities and revolving underwriting facilities
98	Transactions, other than SFTs, involving the posting of Securities held by the Authorised Firm as Collateral
99	Asset sales with recourse
100	Other commitments with certain drawdown
101	Other commitments
102	TOTAL OFF-BALANCE SHEET EXPOSURES

Instructions on Annex 1.1. template on Financial position/Balance Sheet Report to the Manual for Preparation of Returns for Authorised Insurance Intermediaries and Insurance Managers aimed at reporting on Insurance Intermediaries’ and Insurance Managers’ assets, liabilities, shareholders’ equity and off-balance sheet exposures.

The Financial Position/Balance Sheet of an Insurance Intermediary and Insurance Manager should be recorded and reported in compliance with the International Financial Reporting Standards and requirements of the AIFC for reporting quarter and quarter prior to reporting quarter.

This reporting template is not applicable for Insurance Intermediary and Insurance Manager doing business in the AIFC as a Branch.

Annex 1.2. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

FINANCIAL POSITION/ BALANCE SHEET TEMPLATE FOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

DOING BUSINESS IN THE AIFC AS A BRANCH

Authorised Firm’s Name

______________________________________

Regulated Activity

(select)

AIFC Branch of

Insurance Intermediary/ Insurance Manager

Permission to Hold Clients’ Money

(select)

Permitted/ Not Permitted

Reporting Period

__ /__ /____

(dd/mm/yyyy)

Financial Position / Balance Sheet of a Branch

Line no.	FINANCIAL POSITION/ BALANCE SHEET OF A BRANCH	Reporting period	Reporting period -1
	ASSETS
1	Cash and Cash Balances at Banks
2	Cash in Hand
3	Cash Balances at Central Banks
4	Money Market Placements
5	Deposits
6	Financial Assets Held for Trading
7	Derivatives
8	Equity Instruments
9	Debt Securities
10	Loans and Advances
11	Islamic Contracts
12	Non-Trading Financial Assets Mandatorily at Fair Value through Profit or Loss
13	Equity Instruments
14	Debt Securities
15	Loans and Advances
16	Islamic Contracts
17	Financial Assets Designated at Fair Value through Profit or Loss
18	Debt Securities
19	Loans and Advances
20	Islamic Contracts
21	Financial Assets at Fair Value through Other Comprehensive Income
22	Equity Instruments
23	Debt Securities
24	Loans and Advances
25	Islamic Contracts
26	Financial Assets at Amortised Cost
27	Debt Securities
28	Loans and Advances
29	Islamic Contracts
30	Derivatives - Hedge Accounting
31	FV Changes of the Hedged Items in Portfolio Hedge of Interest Rate Risk
32	Investments in Subsidiaries, Joint Ventures, and Associates
33	Tangible Assets
34	Property, Plant, and Equipment
35	Investment Property
36	Account Receivables
37	Prepayments and Security Deposits
38	Intangible Assets
39	Goodwill
40	Other Intangible Assets
41	Tax Assets
42	Other Assets
43	Non-Current Assets and Disposal Groups Classified as Held for Sale
44	TOTAL ASSETS

	LIABILITIES
45	Financial Liabilities Held For Trading
46	Derivatives
47	Short positions
48	Debt securities issued
49	Islamic contracts
50	Other financial liabilities
51	Financial Liabilities Designated at FairValue through Profit and Loss
52	Debt securities issued
53	Islamic contracts
54	Other financial liabilities
55	Financial Liabilities Measured At Amortised Cost
56	Debt securities issued
57	Islamic contracts
58	Other financial liabilities
59	Deposits/PSIAu
60	Banks and Financial institutions
61	Others
62	Derivatives-Hedge Accounting
63	FV Changes of the Hedged Items in Portfolio Hedge of Interest Rate Risk
64	Provisions
65	Pensions, other post-employment defined benefit obligations and other long term employee benefits
66	Restructuring
67	Pending legal issues and tax litigation
68	Commitments and guarantees given
69	Problem credits (bad and doubtful debt)
70	Other provisions
71	Current Liabilities
72	Tax Liabilities
73	Head Office Account
74	Other Liabilities
75	Liabilities Included in Disposal Groups Classified as Held for Sale
76	TOTAL LIABILITIES

	OFF-BALANCE SHEET EXPOSURES
77	Direct credit substitutes
78	Transaction - related contingent items
79	Short-term self-liquidating trade-related contingent items-applicable to both issuing and - confirming banks - and commitments to underwrite debt and equity Securities
80	Note issuance facilities and revolving underwriting facilities
81	Transactions, other than SFTs, involving the posting of Securities held by the Authorised Firm as Collateral
82	Asset sales with recourse
83	Other commitments with certain drawdown
84	Other commitments
85	TOTAL OFF-BALANCE SHEET EXPOSURES

Instructions on Annex 1.2. template on Financial position/Balance Sheet Report of a Branch to the Manual for Preparation of Returns for Authorised Insurance Intermediaries and Insurance Managers doing business in the AIFC as a Branch aimed at reporting on assets, liabilities and off-balance sheet exposures of an Insurance Intermediaries and Insurance Managers doing business in the AIFC as a Branch.

The Financial Position/Balance Sheet of a Branch of an Insurance Intermediary and Insurance Manager should be recorded and reported in compliance with the International Financial Reporting Standards and requirements of the AIFC for reporting quarter and quarter prior to reporting quarter.

Line 73. Head Office Account – is the total of liabilities to Head Office, that which has characteristics of Equity Share Capital (e.g. working capital) and adjuster due to the financial results of a branch.

Annex 1.3. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

PROFIT AND LOSS REPORT TEMPLATE FOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

Authorised Firm’s Name	______________________________________
Regulated Activity (select)	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money (select)	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
Profit and Loss Report

Line No.	Profit and Loss	Reporting period since the beginning of the year	Reporting period -1 since the beginning of the year
1	Net Main Business Income
2	Main Business Income
3	Insurnace Intermediation
4	Inusrnace Management
5	Main Business Expenses
6	Insurnace Intermediation
7	Inusrnace Management
8	Net Interest Income
9	Interest Income
10	Cash and cash balances at banks
11	Financial assets held for trading
12	Non-trading financial assets mandatorily at fair value through profit or loss
13	Financial assets designated at fair value through profit or loss
14	Financial assets at fair value through other comprehensive income
15	Financial assets at amortised cost
16	Derivatives - Hedge accounting, interest rate risk
17	Other assets
18	(Interest Expenses)
19	(Financial liabilities held for trading)
20	(Financial liabilities designated at fair value through profit or loss)
21	(Financial liabilities measured at amortised cost)
22	(Derivatives - Hedge accounting, interest rate risk)
23	(Deposits)
24	(Other liabilities)
25	Annual Income (follow 3.2.(2) PRU INT) in thousands of USD, once a year
26	Minimum Capital Required (follow 3.2.(2) PRU INT) in thousands of USD	-
27	(Profits payable)
28	Dividend Income
29	Net Fee and Commission Income
30	Fee and Commission Income
31	Asset/Fund management activities
32	Advisory services
33	Brokerage activities
34	Trade finance
35	Arranging
36	Other
37	(Fee and Commission Expenses)
38	(Asset/Fund management activities)
39	(Advisory services)
40	(Brokerage activities)
41	(Trade finance)
42	(Arranging)
43	(Other)
44	Gains or (-) Losses:
45	on financial assets and liabilities held for trading, net
46	non-trading financial assets mandatorily at fair value through profit or loss
47	on financial assets and liabilities designated at fair value, net
48	from hedge accounting, net
49	on exchange differences, net
50	on derecognition of financial assets and liabilities not measured at fair value, net
51	on derecognition of non financial assets other than held for sale, net
52	Net Other Operating Income
53	Other Operating Income
54	Intergroup services
55	Other
56	(Other Operating Expenses)
57	(Intergroup services)
58	(Other)
59	Gross Profit
60	(Administrative Expenses)
61	(Salaries and allowances)
62	(Bonuses and commissions)
63	(Other administrative expenses)
64	(Depreciation)
65	(Property, Plant and Equipment)
66	(Investment properties)
67	(Intangible assets)
68	Modification Gains or (-) Losses, Net
69	Financial assets at fair value through other comprehensive income
70	Financial assets at amortised cost
71	(Provisions or (-) Reversal of Provisions)
72	(Commitments and guarantees given)
73	(Other provisions)
74	(Impairment or (-) Reversal of Impairment of Financial Assets Not Measured at Fair Value Through Profit or Loss)
75	(Impairment or (-) Reversal of Impairment of Investments in Subsidiaries, Joint Ventures, and Associates)
76	(Impairment or (-) Reversal of Impairment of Non-Financial Assets)
77	Negative Goodwill Recognised in Profit or Loss
78	Share of the Profit or (-) Loss of Investments in Subsidiaries, Joint Ventures, and Associates
79	Profit or (-) Loss Before Tax from Continuing Operations
80	(Tax Expense or (-) Income Related to Profit or Loss from Continuing Operations)
81	Profit or (-) Loss After Tax from Continuing Operations
82	Profit or (-) Loss After Tax from Discontinued Operations
83	Profit or (-) loss before tax from discontinued operations
84	(Tax expense or (-) income related to discontinued operations)
85	Profit or (-) Loss for the Reporting Period
86	Attributable to Non-Controlling Interests
87	Attributable to Owners of the parent

Instructions on Annex 1.3. template on Profits and Loss report to the Manual for Preparation of Returns for Authorised Insurance Intermediaries and Insurance Managers is aimed at reporting on profits and losses of Insurance Intermediaries and Insurance Mangers.

The Profit and Loss Report of a PRU Investment Firm should be recorded and reported in compliance with the International Financial Reporting Standards and requirements of the AIFC for reporting quarter/year since the beginning of the year and quarter/year prior to reporting quarter/year since the beginning of the year .

Annex 1.4. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

CAPITAL RESOURCES and INDEMNITY INSURANCE CALCULATION TEMPLATEFOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

Authorised Firm’s Name	______________________________________
Regulated Activity (select)	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money (select)	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
CAPITAL RESOURCES AND INDEMNITY INSURANCE CALCULATION

MINIMUM CAPITAL REQUIREMENT
Line no.		Reporting period	Reporting period-1
1	(+) Capital elements
2	the ordinary equity share capital, to the extent fully paid up
3	share premium accounts related to the equity share capital referred on line 2
4	any retained earnings and reserves created out of earnings of past periods of the Authorised Firm, and accumulated other comprehensive income, as defined in the International Financial Reporting Standards, to the extent shown in its audited financial statements and accounts.
5	(-) Capital elements
6	any interim losses incurred by the Authorised Firm in the current financial year, irrespective of whether or not shown in audited financial statements and accounts
7	goodwill and other intangible assets as defined in the International Financial Reporting Standards
8	tangible fixed assets, including equipment and vehicles
9	deferred tax assets that rely on future profitability
10	defined benefit pension fund assets of the Authorised Firm
11	investments by the Authorised Firm or by any of its Subsidiaries in the Authorised Firm's own shares
12	holdings of equity shares of Affiliates or Related Persons which give rise to a reciprocal cross holding with the Authorised Firm which has the effect of artificially inflating the Capital Resources of the Authorised Firm
13	any amount to be deducted from Capital Resources as directed by the AFSA
14	Capital Resources Available

15	MINIMUM CAPITAL REQUIREMENTS
16	Annual Income (follow 3.2.(2) PRU INT) once a year
17	Minimum Capital Required (follow 3.2.(2) PRU INT)
18	Capital Resources available
19	Control of compliance with Minimum Capital Requirements

	Indemnity Insurance Overview
20	Indemnity Insurance Volume
21	Average size of insurance policy Intermediated/ Managed
22	Number of Insurance policies Intermediated/ Managed
23	Indemnity Insurer’s Name
24	Indemnity Insurer’s Residency
25	Indemnity Insurer’s Rating/ Rating Agency

Instructions on Annex 1.4 Template on Capital Resources Calculation to the Manual for Preparation of Returns for Authorised Insurance Intermediaries and Insurance Managers are aimed on calculation and reporting of Insurance Intermediaries and Insurance Managers Capital Resources.

Insurance Intermediaries and Insurance Managers must prepare and submit Capital Resources Calculation, Minimum Capital Requirements and Insurance Indemnity reports for the reporting quarter and quarter prior to reporting quarter.

Insurance Intermediaries and Insurance Managers doing business in the AIFC as a Branch must prepare and submit Insurance Indemnity report.

Line 14. Capital Resources Available is difference of line 1. (+) Capital Elements and line 5. (-) Capital Elements.

Line 19. Control of compliance with Minimum Capital Requirements is analysis of Capital Resources Available and Minimum Capital Requirements.

Annex 1.5. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

INSURANCE INTERMEDIATION AND INSURANCE MANAGEMENT INFORMATION TEMPLATE FOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

Authorised Firm’s Name	______________________________________
Regulated Activity (select)	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money (select)	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
INSURANCE INTERMEDIATION AND INSURANCE MANAGEMENT INFORMATION

For reinsurance-jurisdiction is the location of the ceding insurer	AIFC	Kazakhstan	+Add country	Total
Totalgross written premiums Intermediated / Underwritten
Total Non-Life gross written premiums Intermediated / Underwritten
Accident
Sickness
Land vehicles
Railway rolling stock
Aircraft
Ships
Goods in transit
Fire and natural forces
Damage to property
Motor vehicle liability
Aircraft liability
Liability of ships
General liability
Suretyship
Miscellaneous financial loss
Legal expenses
Assistance
Other

Total Long-Term gross written premiums Intermediated / Underwritten
Life and annuity
Marriage and birth
Linked long term
Tontines
Capital redemption contracts
Pension fund management
Permanent health
Other

Insurance Money
Balance at the beginning of the period
Total inflow
Total outflow
Balance at the end of the period
Held in account for greater than 30 days
-Bank 1 name
-Bank 2 name
-Bank ... name

Annex 1.5 Insurance Intermediation and Insurance Management of the Manual for Preparation of Returns for Authorised Insurance Intermediaries an Insurance Managers is aimed on reporting on Insurance Intermediaries and Insurance Managers business operations done during the reporting period by insurance categories outlined in PINS and Insurance Money hold.

Insurance Intermediaries and Insurance Managers who are permitted to hold clients’ money are submitting information on business operations and Insurance Money.

Insurance Intermediaries and Insurance Managers who are not permitted to hold clients’ money are submitting information on business operations.

Annex 1.6. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

INFORMATION ON INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS CONTROLLERS

Authorised Firm’s Name	______________________________________
Regulated Activity (select)	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money (select)	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
Information on Controllers

Controllers	Share, in %	Share, in thousands of USD	Information on controllers
Controllers	Share, in %	Share, in thousands of USD	Individual/ Business	Country of residency
1	2	3	4	5


Total	100%

Instructions on Annex 1.6. to the Manual for Preparation of Returns for Authorised Insurance Intermediaries and Insurance Managers is reporting template for Information on Controllers.

This Template is not applicable for the Insurance Intermediaries and Insurance Managers doing business in the AIFC as a Branch.

The purpose of this Template is to provide the AFSA with information on Auhtorised Firm’s Controllers structure, share in percentage and thousands of USD, residency and is controller business entity or individual.

Annex 2.1. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

INFORMATION ON INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS STAFIING AND CONDUCT

Authorised Firm’s Name	______________________________________
Regulated Activity	Insurance Intermediary/ Insurance Manager
Permission to Hold Clients’ Money	Permitted/ Not Permitted
Reporting Period	__ /__ /____ (dd/mm/yyyy)
Staffing and Conduct

FORM FC140: Staffing and Conduct
	-	-	-	-	-	Insurance intermediaries	Insurance managers	Total

Staffing
FC140_10100 - Senior Management (e.g. CEO / SEO, Directors / Senior Mgmt. etc)
FC140_10200 - Advisory (e.g. Client Relationship Manager etc.)
FC140_10300 - Discretionary Account Manager (e.g. Front Office Personnel)
FC140_10400 - Discretionary Fund Manager (e.g. Front Office Personnel)
FC140_10500 - Accountants (Fund / segregated vehicle accountants etc)
FC140_10600 - Front Office Trading Desk
FC140_10700 - Back Office
FC140_10800 - Compliance, AML Risk Management (e.g. CO / MLRO, Risk Managers etc.
FC140_10900 – Other (e.g. Finance, HR, IT, Admin/Support)
FC140_1000T - Total Relevant Staffing
FC140_10000 - AIFC Located Staff

Clients
FC140_20100 - Assessed Professional
FC140_20200 - Deemed Professional
FC140_20300 - Market Counterparty
FC140_20400 - Retail
FC140_2000T - Total Number of Clients

Complaints - High Level Stats
FC140_30100 - Status: Upheld
FC140_30200 - Status: Rejected
FC140_30300 - Status: Pending
FC140_3000T - Total Complaints - High Level Stats

Complaints - Breakdown of Type
FC140_40100 - Suitability
FC140_40200 - Service
FC140_40300 - Performance
FC140_4000T - Total Complaints - Breakdown of Type

Regulatory Breaches
FC140_50100 - Open
FC140_50200 - Closed
FC140_5000T - Total Regulatory Breaches

Number of Suspicious Activity Reports
FC140_60100 - Internal
FC140_60200 - External
FC140_6000T - Total Number of Suspicious Activity Reports

Instructions on the Annex 2.15 to the Manual for Preparation of Returns for Authorised Investment Firms to collect data on Staffing and Conduct.

Purpose

Form FC140 is designed to capture high level statistics in relation to the firm’s staff, its clients, as well as the firm’s complaints, regulatory breach and suspicious transaction experience.

Applicability

The Form applies to all Authorised Firms in the AIFC.

Content

The information sought is factual numbers and current status (where applicable). Complaints are further broken down into high level types.

Structure of the Form

The Form is split into 6 sections:

• Staffing (Total of all staff at reporting period end, with breakdown between the functions required);

• Clients (Total of all the firm’s clients as at reporting date broken down by client type Categories);

• Complaints (Outcome of complaints raised during the reporting period. If recorded as pending, then the decision of whether it is upheld or rejected is to be reported in the relevant subsequent reporting periods);

• Complaints (Received during the period reported only);

• Breaches (Open and Closed during the reporting period); and

• Suspicious Activities Reports (Recorded during the reporting period only).

o Internal - SARs submitted to the Firm's CO/MLRO.

o External - SARs submitted to the Committee on financial monitoring of the Ministry of finance of the Republic of Kazakhstan

It is further split into five business sectors with firms expected to complete the column that best represents their activities.

Instructional Guidelines

• Figures are to be entered in actuals and not in thousands.

•The Form requests the total of “All Relevant Staff” and the total “AIFC Located Staff.”

o “All Relevant Staff” – This includes all staff who physically reside within the AIFC entity in addition to staff who reside elsewhere within the group but who provide services to the AIFC entity. Where an individual in another part of the group provides ad hoc support to the AIFC entity, the AIFC entity must determine the materiality and regularity of the service when determining whether it is necessary to count the individual in the AIFC entity’s “All Relevant Staffing” total.

o “AIFC Located Staff” – This includes only the number of staff physically present in the AIFC. Where a staff person divides his or her physical presence between the AIFC entity and another group entity, the person should be counted one time and included in the “AIFC Located Staff” total.

For example:

The AIFC entity employs an SEO, CO/MLRO, FO, 1 front office manager, 3 advisory staff, and utilizes the back-office services of another group entity. The other group entity employs 30 staff in its back office. The AIFC entity determines that the equivalent of 2 of the 30 staff are dedicated to performing services to the AIFC entity. The AIFC entity will report as follows:

“All Relevant Staff” – 9 total staff

“AIFC Located Staff” – 7 total staff

• Staff shared between different businesses lines are to be recorded in the “Other” column.

• Do not count any single individual more than one time

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Manual for Preparation of Returns for Insurance Intermediaries and Managers

1. INTRODUCTION

2. REPORTING TEMPLATES

3. REPORTING RULES

4. CONCLUSION

Annex 1.1. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

Annex 1.2. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

Annex 1.3. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

Annex 1.4. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

Annex 1.5. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

Annex 1.6. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers

Annex 2.1. to the Manual for Preparation of Returns for Insurance Intermediaries and Insurance Managers